Yntegra Trading | 2014 | September

Date archive: September 2014

After lulling us to sleep through the first four sessions of the week, the cattle market found a bid on Friday, trading steadily firmer through midday and ultimately up the daily $3.00 limit in both the feeders and the fats. This was despite a still lower beef market and no cash cattle news t. A…

The wheat market bounced in the overnight session as some traders even up positions ahead of tomorrow’s Quarterly Stocks report. Friday’s fund report showed a record short wheat position of about 73K contracts, leading some to cover as any bullish news could cause a nice bounce. Taiwan millers issued tender for 80 TMT of U.S….

Tomorrow is the stocks report and other grains will likely have a bigger impact on the market than beans. There is little that should surprise in the bean stocks as carryout is minimal and the only question is how much bigger USDA attempts to adjust last year’s crop. The harvest made progress over the weekend…

Corn closed down 3 on Friday and down 8 ½ for the week. Funds sold 4K contracts on Friday. We should see a lot of harvest progress on this week’s report. We are expecting to see 15% to 20% harvested, up from 7% last week and 23% on average. Starting Wednesday, we should see a…

Cattle futures trading to a mixed finish yesterday, mostly lower in the live cattle pit and higher in the feeders. Live cattle futures under pressure yesterday and again this morning as packers continue to pare back the slaughter pace. Daily slaughter coming in at just 109k head yesterday with the weekly total expected to fall…

The wheat market bouncing this morning as the forecast shows heavy rainfall in the Brazilian wheat growing areas as they approach harvest. It will also, it seems, follow the trend of high precipitation during wheat harvest which we have seen in both the US and the EU. Freight continues to be the driving force behind…

A minor bounce occurred overnight as we see moisture and a lack of maturity helping an oversold market rally. It is interesting that the lower prices have not brought in another round of buying by the Chinese, at least not a reportable one. Basis is still finding some old crop traction, but pitons are needed….

Corn traded a bit firmer overnight on light volume after 5 consecutive lower daily closes. Early harvest yields are impressively big, with talk of a 180 national U.S. yield. A linier projection of the biggest Corn crops in the past 30 years easily projecting a 180 yield. FCStone’s September yield was 174.1. Trade debating whether…

The USDA’s monthly Cattle on Feed report released on Friday afternoon came in about as close to the pre-report estimates as any report I remember. Sept. 1 on feed 99% of a year ago, Aug. placements record low at 97%, and Aug. marketings 90%. This marketings total is also a record low (for the seventh…

The wheat market is managing a small bounce to start the week as the U.S. received some export business over the weekend. Egypt bought 55K tonnes for $222.22/tonne from Ameropa, which represents the first Egyptian SRW purchase since February. A private analyst Friday issued an estimate for HRW production at 707 mbu, well below the…

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